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Which costing method is it?

Exercise and reference answers

Items
  1. Item
    Oldest sold first
    Category
    FIFO
  2. Item
    Newest in hand
    Category
    FIFO
  3. Item
    Newest sold first
    Category
    LIFO
  4. Item
    Oldest in hand
    Category
    LIFO
  5. Item
    One blended rate
    Category
    Average
  6. Item
    Weighted by units
    Category
    Average
Categories
  1. Item
    FIFO
  2. Item
    LIFO
  3. Item
    Average
Instructions
Tap a description, then tap the inventory method it names.

Explanation

_Source: ICAI CA Foundation Accounting Ch4 Inventories, CHAPTER 4 INVENTORIES_
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